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Recently, a university study confirmed that wood pellet production can lead to a reduction in greenhouse gas emissions, increase forest growth, and create jobs. Researchers found that increasing demand for wood pellets resulted in more forest area, more forest investment, large greenhouse gas reductions, and little change in forest carbon inventories.
Acting USDA Chief Economist Robert Johansson comments on the report and the findings: http://blogs.usda.gov/2015/06/08/study-finds-increasing-wood-pellet-demand-boosts-forest-growth-reduces-greenhouse-gas-emissions-creates-jobs/